# kaal:claim:2834531-042

**Claim.** The most interesting feature of the sandbox is that ideas, products, and services are tested in a live environment, made possible by a set of default parameters the FCA defined that can be altered case by case.

**Type.** design  **Support.** evidenced

**Holds when.**

- default duration of three to six months
- customer numbers sufficient for statistically relevant data
- pre agreed safeguards and disclosure to customers

**Source quote.**

> What is perhaps most interesting about the sandbox is that new ideas, product, and services can be tested in a "live" environment.112 In order to create this environment, the FCA defined a set of default parameters that can be altered on a case–by–case basis.

**From.** Mark Fenwick, Wulf A. Kaal, Erik P. M. Vermeulen, *Regulation Tomorrow What Happens When Technology Is Faster Than the Law* (2017), C. The Minimum Regulatory Sandbox, page 32

**Cite as.** Mark Fenwick, Wulf A. Kaal, Erik P. M. Vermeulen, Regulation Tomorrow What Happens When Technology Is Faster Than the Law (2017). SSRN: https://ssrn.com/abstract=2834531

**Verify.** sha256 of source PDF `9cd875ebdb0266febbdcdabfca5b9b9f0de1b7ad9e3d5a8a5971bdbe469323b7` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Fenwick%20et%20al.%20-%202017%20-%20Regulation%20Tomorrow%20What%20Happens%20When%20Technology%20Is%20Faster%20Than%20the%20Law.pdf

**Topics.** institutional-design

**Keywords.** regulatory-sandbox, live-testing, fca, regulatory-parameters

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